Power BI · Accounting

Benedict controlling system

Analysis of financial statements - P&L, Balance Sheet, Cash Flow and Trial Balance.

In cooperation with our partners, certified accounting and tax experts QLARIS Consulting, we created an advanced system for comprehensive accounting analysis and controlling of the company's assets. Currently prepared for Croatian legislation, with new markets in the pipeline (Germany, Slovenia).

The system contains all the settings essential for accurate reporting based on Croatian accounting standards (settings can be adjusted for different accounts and legislation). Gross balance, P&L statement and other reports are generated automatically based on your general ledger.

You no longer have to wait for the end of the year or quarter to check the state of your business - reporting keeps pace with your bookkeeping. As soon as items are booked, they are visible in your report on a daily, weekly or monthly basis.

If you face these problems, we have a solution

  • A long process of preparing quarterly and annual financial reports.
  • Too much manual operational work when making reports.
  • Non-dynamic comparisons with last year or the business plan.
  • Lack of automation in reporting (repeating the same manual process every month/week).
  • Inaccurate and unreliable information.
  • Multiple companies in a cluster with different bookkeeping that must be consolidated.
  • Lack of information to make the right decision, and information lag.

How can Benedict help you?

We devoted a lot of time to optimizing data cleaning, so your logs and transactions are automatically linked via the codebook, respecting all general-ledger rules. If there are deviations, the system quickly recognizes and adjusts them.

After the initial implementation (~20 working days per company), all other updates happen automatically - you get new business information every day, and can analyze data down to the level of the individual transaction. Instead of processing data, you dedicate substantially more time to analytics and business optimization.

We don't sell just nice visuals - we help with the whole implementation: initial data merging and deviation control, setting up the Power BI system, and personnel training. We have invested over 300 hours with accounting experts to build a data model that accurately maps and structures different general ledgers into a form suitable for analytics.

Presentation of Benedict's features

Benedict is based on modern Microsoft Power BI technology. Try our live demo below, based on combined data from 3 stores of the same company cluster (6 report pages in total).

Live interactive demo. Right-click an item to drill through and see exactly which transactions affected the selected value.

The main advantages of the system

Flexibility

Connects quickly to different accounting data sources (databases, accounting systems, CSV/TXT, Excel, XML exports and others).

Implementation speed

The entire implementation process is optimized to less than 20 working days.

Automation

After implementation, data is updated automatically at regular intervals (daily/weekly/monthly).

Control

Smooth control of business results and detection of possible errors in the accounting system.

Timeliness

Analytics keeps pace with how your accounting posts entries.

Comparison vs Plan/LY

Scoreboards that account for the economic importance of an item (e.g. expenses growing slower than revenue show green).

Reporting to the lowest granularity

From main items (e.g. total revenue) down to the transaction - enabling accounting/financial forensics.

Consolidation

Rapid preparation of consolidated reports from several companies within a cluster.

Reports included

P&L Statement

Monthly (MTD), quarterly (QTD) and yearly (YTD) levels, comparisons with last year or plan, and KPIs that flag healthy vs problematic items using economic logic.

Balance sheet

Balance on a selected day, comparisons with last year, KPIs by economic logic, and sub-analytics for customers and suppliers.

Trial balance

Control of accounts by class, navigation across hierarchies, split by cost/revenue centers to identify successful and unsuccessful segments.

Cash Flow (in development)

We are adding a cash flow report using direct and indirect methods, and adapting reports for German and Slovenian markets.

Licensing, implementation and price

A Microsoft Power BI license (€8.40 per user per month) is required to access reports. Once implemented there are no additional or hidden costs. The cost of implementation depends on the complexity and type of company and the number of companies to be consolidated. Implementation includes systematizing your general ledger, minor report adjustments, defining the data connection, setting up Power BI, automatic data refresh, and up to 6 hours of user training.

After implementation you can arrange periodic maintenance (all new reports we develop plus full support for the contract duration). Maintenance is not binding and depends on your wishes and capacity for independent maintenance.

Interested? Contact us for a live demo and more information.

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References

A selection of the domestic and international clients we have worked with.